1888 W Dotterel Cir #24

Park City, UT 84032

$339,900D

4 bd · 5.0 ba · 3,243 sqft · Built 2025 · Townhouse · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,564/mo
• Mortgage (P&I): −$1,782
• Tax + insurance: −$566
• HOA: −$750
• Vac / Maint / Mgmt: −$748
• Net cashflow: $-283/mo
• Annual: $-3,400/yr
• Cap rate: 5.29%
• Cash-on-cash: -3.57%
• DSCR: 0.84
• 1% rule: 1.05%
• Cash to close: $95,172

Investor read

• This is a 4-bed/5.0-bath townhouse listed at $340k. Condition is rated excellent.
• At list price, monthly cash flow is $-283 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $299k (12.1% below list).
• Meets the 1% rule at list price ($4k rent vs $340k).
• It's been on market 30 days — a 2% lower offer ($335k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $299k (12.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#78 in UT) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime D, cost of living F, health & safety F.
• Wasatch District (town): math 45% / reading 51% proficiency, ranked #23 of 80 in UT (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: J.R. Smith School (math 51% / reading 43%, grade D-, #202 of 585 statewide, top 36%, 665 students, 35% FRL); Rocky Mountain Middle (math 40% / reading 50%, grade D, #43 of 138 statewide, top 33%, 717 students, 26% FRL); Wasatch High (math 34% / reading 50%, grade F, #55 of 171 statewide, top 32%, 2,531 students, 16% FRL) — zoned schools at 25% FRL track the district average.
• Watch-outs: HOA is 21% of rent.
• Market conditions: Rents rising (+3.9%/yr); 1358 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 835 units permitted in Wasatch County in 2024 (22 in 5+ unit buildings).
• Wasatch County population projected at +87% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• This rent runs 41% of the median local income ($103k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.